Brazil's 2011 soyabean harvest could turn out better than expected despite damaging rain with crop yields higher than previously forecast, Hamburg-based oilseeds analysts Oil World said on Tuesday. "Yields obtained in most parts of Brazil have exceeded expectations," it said. "This may partly be due to the increasing share of genetically-modified soyabeans, which are reportedly cultivated on 86 percent of the area this year compared with 72 percent last year."
Oil World on Mar. 29 estimated Brazil's 2011 soyabean crop at 70.5 million tonnes, up from 68.6 million tonnes in 2010 but warned forecasts could have to be cut by up to 1 million tonnes because of rain damage. Brazil is the world's No 2 soya exporter after the United States. Brazil's soyabean crop is now being harvest and some plants have suffered heavy rain at a highly vulnerable time.
"Despite the damage caused by heavy rainfall and the harvest delays, several observers are of the opinion that this year's soyabean crop could still reach around 72 million tonnes," Oil World said. Brazilian analyst Agroconsult estimates the crop at 72.7 million tonnes. Rain in the Mato Grosso, Mato Grosso do Sul and Goias regions has delayed harvesting and caused concern about crop damage, Oil World said. But there is increasing evidence of considerably larger than expected soyabean harvests in the Parana, Rio Grande do Sul and north-eastern Brazilian regions, it said.
Comments
Comments are closed for this article.